Bonds did dip under 162^06 today, nominally a positive for the bearish case but bounced from just above the daily moving averages and almost recovered 162^06. This behavior has me thinking that at a minimum, 163^07 may be retested before trying to resume lower. The alternate, which the odds just went up on, is that the wave 'b' high is not set and may get a test of 164^09 or 165^01 before rolling down.

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